Renewable energy producer Rokas Group aims at over 400 MW installed wind capacity by the year 2009, the company said at a presentation in the Union of Institutional Investors on Wednesday, while it expects its investments in the wider area of the Balkans to exceed EUR400 million.
The company’s 2006-2009 business plan also includes the interconnection of the islands of Lesbos, Chios and Limnos through the installment of 44 wind farms of 1636 MW capacity.
The total production of the wind farms are estimated at 4.41 TWh while the cost of the investment is estimated at EUR2.4 billion.
Rokas , which is a member of the Spanish Iberdrola group, said that it aims at a full exploration of the North Aegean wind production. The company sees that the three islands will cover some 20% of their electricity needs from renewable sources of energy by 2010.
Currently, Rokas holds a 653.8 MW license for wind farms, of which it operates 193.3 MW through 13 wind parks. Under development or construction are farms of 460.5 MW capacity.
Rokas targets the photovoltaic market too, as it already operates a small photovoltaic plant in Crete. It has also applied for a 10 MW photovoltaic farm license.
Rokas first half financial results were strong, with net profits rising 73% to EUR9 million. Revenues were EUR25.20 million in the respective period.